California Code of Regulations
Title 14 - Natural Resources
Division 2 - Department of Conservation
Chapter 8 - Mining and Geology
Subchapter 1 - State Mining and Geology Board
Article 11 - Financial Assurance Mechanisms
Section 3804 - Calculation of Financial Assurance Amount

Universal Citation: 14 CA Code of Regs 3804

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) The Financial Assurance Amount shall be calculated as prescribed in Public Resources Code Section 2773.1 and based on:

(1) an analysis of the physical activities and materials necessary to implement the approved reclamation plan;

(2) the lead agency's unit costs, or costs for third party contracting, for each of these activities, if applicable;

(3) the number of units of each of these activities, if applicable;

(4) a contingency amount not to exceed 10% of the reclamation costs.

(b) The calculated amount should not include the cost of completing mining of the site.

(c) In order for the lead agency or the Division of Mine Reclamation to determine what annual adjustments, if any, are appropriate to the Financial Assurance Amount, the operator shall annually submit to the lead agency a revision of the written calculation required under Section 3804(a).

Note: Authority cited: Section 2773.1, Public Resources Code. Reference: Section 2773.1(e), Public Resources Code.

Note: Authority cited: Section 2773.1, Public Resources Code. Reference: Section 2773.1(e), Public Resources Code.

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